This Karnataka Elections Startups Feature In Election Manifestos As BJP Promises Biggest Incubator, VC Funds

Ahead of assembly elections in Karnataka, which is a home state India’s startups’ capital Bangalore, the startups have now become a part of election manifestos of political parties when Bharatiya Janata Party unveiled its election manifesto on 4 April.

ALSO READ: Bengaluru Is Slipping Down On The Global Startup Hub Ranking

Interestingly, K-Hub sounds very similar to Hyderabad’s T-Hub, which is currently the largest startup incubator in the country. 

What has the party manifesto promised?

• BJP promises to give entrepreneurship a boost by setting up incubators called ‘K Hubs’ across Karnataka. Interestingly, K-Hub sounds very similar to Hyderabad’s T-Hub, which is currently the largest startup incubator in the country. If the party is voted to power, it has promised to develop 6 “K-Hubs” as the biggest incubators and co-working spaces for startups in India at Hubbali, Bengaluru, Raichur, Mysuru, Kalaburagi, and Mangaluru. These K Hubs — according to BJP manifesto — will be the biggest incubators and co-working spaces for startups in India.
• BJP also plans to launch a Venture Capital Fund.

“Launch a Sir M Visvesvaraya Venture Capital Fund to support innovative business ideas and nurture a spirit of entrepreneurs among state youth,”

reads the BJP manifesto.

• The party also plans to launch a policy to promote and encourage women entrepreneurship in the state and set up a ₹50 crore handloom entrepreneurs fund to help sell handloom products directly on online platforms.
• Establish 15 “MSME Development Centres” to serve as (Micro, Small and Medium Enterprises) MSME incubators and provide a platform for them to become technology-based entrepreneurs.
• In order to support the SC community, BJP will designate ₹500 crore under the ‘Dr. Bhimarao Ramji Ambedkar entrepreneurship scheme’ to organize entrepreneur development and incubation programs for SC entrepreneurs. It is to be noted however that for last 4 years, the Narendra Modi government in the centre has struggled to improve the Centre’s track record of procuring goods and services from Dalit and Adivasi entrepreneurs.
• Provision of free laptops to every student who enrolls in a college. The party, however, didn’t disclose any plan for education policy in the state.

It is now time to wait and see if the party leaders stand true on their promises if they win the assembly elections in the state.

ALSO READ: Norwegian Impact Accelerator Katapult Has Invited Applications From Indian Startups